Elite Wealth Management Inc. Decreases Stock Holdings in Amazon.com, Inc. (NASDAQ:AMZN)

Elite Wealth Management Inc. lowered its position in Amazon.com, Inc. (NASDAQ:AMZN) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 220,246 shares of the e-commerce giant’s stock after selling 6,446 shares during the quarter. Amazon.com comprises approximately 6.0% of Elite Wealth Management Inc.’s portfolio, making the stock its 3rd largest holding. Elite Wealth Management Inc.’s holdings in Amazon.com were worth $48,320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Accordant Advisory Group Inc grew its position in Amazon.com by 400.0% in the fourth quarter. Accordant Advisory Group Inc now owns 125 shares of the e-commerce giant’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Compass Planning Associates Inc purchased a new position in Amazon.com in the fourth quarter worth $51,000. Quattro Financial Advisors LLC grew its position in Amazon.com by 23.8% in the fourth quarter. Quattro Financial Advisors LLC now owns 234 shares of the e-commerce giant’s stock worth $51,000 after acquiring an additional 45 shares in the last quarter. Bull Oak Capital LLC purchased a new position in Amazon.com in the third quarter worth $45,000. Finally, Iron Horse Wealth Management LLC grew its position in Amazon.com by 64.4% in the fourth quarter. Iron Horse Wealth Management LLC now owns 286 shares of the e-commerce giant’s stock worth $63,000 after acquiring an additional 112 shares in the last quarter. 72.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMZN. Sanford C. Bernstein upped their target price on shares of Amazon.com from $235.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. JMP Securities restated a “market outperform” rating and set a $285.00 price target on shares of Amazon.com in a research report on Friday, February 7th. Raymond James upped their price target on shares of Amazon.com from $260.00 to $275.00 in a research report on Monday, February 10th. Scotiabank upped their price target on shares of Amazon.com from $246.00 to $306.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Finally, Rosenblatt Securities upped their price target on shares of Amazon.com from $236.00 to $287.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Two analysts have rated the stock with a hold rating, forty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $260.65.

Amazon.com Price Performance

AMZN stock opened at $196.21 on Friday. The firm has a 50 day moving average price of $218.90 and a 200-day moving average price of $208.19. Amazon.com, Inc. has a 52-week low of $151.61 and a 52-week high of $242.52. The firm has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 35.48, a PEG ratio of 1.50 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.87 and a current ratio of 1.06.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, February 6th. The e-commerce giant reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.34. Amazon.com had a net margin of 9.29% and a return on equity of 24.25%. Equities research analysts forecast that Amazon.com, Inc. will post 6.31 EPS for the current fiscal year.

Insider Activity at Amazon.com

In related news, CEO Andrew R. Jassy sold 20,784 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $220.65, for a total transaction of $4,585,989.60. Following the completion of the sale, the chief executive officer now owns 2,118,886 shares of the company’s stock, valued at $467,532,195.90. This trade represents a 0.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas J. Herrington sold 5,501 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $228.44, for a total transaction of $1,256,648.44. Following the sale, the chief executive officer now directly owns 505,318 shares of the company’s stock, valued at $115,434,843.92. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,298 shares of company stock valued at $22,871,828 over the last 90 days. Corporate insiders own 10.80% of the company’s stock.

About Amazon.com

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.